Robert Khuzami, the Securities and Exchange Commission’s enforcement chief, is on his way out the door — but he says in an interview with The Post that the agency’s much-maligned practice of settling cases is here to stay.

Khuzami, 56, defended the SEC’s policy of allowing targets to settle cases — usually without an admission of wrongdoing — despite recent criticism.

“There are certain myths about SEC practices, including how ‘neither admit nor deny’ works and why we use it,” said Khuzami, who is leaving his post after heading the agency’s crackdown on big banks following the financial crisis.

“I speak out against these myths in the hope of reducing the level of cynicism felt by the public, which are often fueled by mischaracterizations or misunderstandings of how we operate.”

The SEC’s well-worn route of levying fines instead of hauling companies to court has come under fire, even as its settlement dollars hit new highs in areas such as Ponzi schemes.

In late 2011, Manhattan federal judge Jed Rakoff caused a stir when he rejected the SEC’s proposed $285 million settlement with Citigroup for allegedly deceiving investors over a mortgage-backed investment. Rakoff said the agency’s decision to end the case without an admission of wrongdoing made it impossible for him to decide whether the fine was a fitting punishment. The case is still winding its way through the courts.

Khuzami, a New York native, said without that clause it could take years to resolve a case, tying up the SEC’s limited resources.

“The cold reality is that in light of this exposure, companies and individuals are highly reluctant to settle if by doing so, they open themselves up to all of this liability,” he said.

While Khuzami isn’t shy about taking on his critics, he was careful when asked for his views on Rakoff.

“I, too, have disagreements with certain of his views on SEC enforcement, but I have the utmost respect for his intellect and sense of justice,” he said.